Posted November 3, 2018

Manitou Group: Q3 2018 sales revenues increase

Compact Equipment Products division, which includes rentals, is up 26 percent over 2017.

"In markets that remain buoyant, the group is continuing to expand in all sectors and most geographies,” reports Michel Denis, president and chief executive officer of the Manitou Grpoup. “The successes of new products and services and the penetration of new markets reinforce this growth.

“The industrial sites continued to accelerate their production rates with a good control of the operational chain in a context of supply constraints. In the United States, the scarcity of manpower and the impacts of the entry into force of the new customs tariffs make the conditions of activity more expensive.

“In this context, I am pleased that this growth is accompanied by strong job creation at all our sites. Order intake increased by more than 10 percent compared to Q3 2017, which was already very good. As a result, our order book remains at a high level and close to the level we had at the end of June.

“The depth of our portfolio allows us to confirm our outlook for revenue growth for 2018 of more than 15 percent compared to 2017, as well as the improvement in recurring operating income by more than 80 basis points, or around 6.8 percent of revenue," He says.

Business review by division
With third quarter sales of €277 million, the Material Handling & Access Division - (MHA) recorded an increase of 19 percent compared to Q3 2017 and an increase of 17 percent over the first nine months of the year (and a 19 percentincrease at constant scope, accounting standard and exchange rates).

The dynamics of the construction, agriculture and industrial markets remain very buoyant. The division continues, with all its suppliers, to organize the acceleration of some of its sites in order to maintain its delivery times.

The Compact Equipment Products Division - (CEP) generated revenue of €74 million, an increase of 26 percent compared to Q3 2017 and 28 percent over nine months (28 percent increase at constant scope, accounting standard and exchange rates). With a favorable outlook, including with rental companies, the division continues to accelerate by having to deal with labor tensions, supply chain tensions and the impact of customs tariff increases.

With revenues of €68 million, the Services & Solutions Division - (S&S) recorded an increase in its revenue of 8 percent compared to Q3 2017 (8 percent increase at constant scope, accounting standard and exchange rates). The division continues to develop its spare parts and attachments activities, while accelerating its progress in service activities.

Click here for the full press release, which includes sales by region.